MP for Ribble Valley, Nigel Evans, recently met with representatives from car insurance companies in order to discuss how to best change the industry to make discount car insurance for young drivers more of a possibility, industry experts recently reported.
Evans, who was prompted to meet with the Association of British Insurers recently after learning that the car insurance rates paid by young people are incredibly high, called upon insurers to address the issue. Young men are particularly hardest hit, with the average quote being nearly £3,000 for a year of car cover, he added.
Mr Evans stated that the country needs to be open and amenable to any number of solutions to the problem. He said that these solutions could come in the form of a wider adoption of telematics-based motor car insurance, using graduating licences, settling upon a higher testing standard, or any other viable option that is developed over time.
Younger drivers run the risk of being priced right off the road, the MP said, which can prove to be particularly difficult in rural regions that lack public transport links. Mr Evans categorised his meeting with ABI representatives as a positive one, adding that families, politicians, and the insurance industry alike agree that this level of premium pricing is nearly unaffordable, even as ensuring the safety of other users of the road is of the utmost importance as well.
The MP’s next step is to confer with key decision-makers and stakeholders before attempting to formulate a solution that both offers some respite to younger drivers and leaves adequate insurance cover in place as well.